English translation: heritable building right ( for fundable/improvable settlements)
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:
Erbbaurecht (bei förderfähigen Ansiedlungen)
heritable building right ( for fundable/improvable settlements)
Explanation: There is no exact equivalent in English Law, but the above comes very close to expressing what this word means.
If you have an Erbbaurecht you have exactly what the word suggests: you have the right to build on the land, and you can leave the land to a third party (within any inheritance limitations in Germany) even though you do NOT own the land over which you have this right.
Dietl/Lorenz describes it as "hereditary building right; (etwa) building lease, ground lease.
transatgees United Kingdom Local time: 12:53 Works in field Native speaker of: English